Mama Carol

I agree. It had been about four or five months since my last interview and I kept thinking that even if the job turned out to be something I didn't want, at least I was keeping my interview skills fresh. To be totally honest, I almost turned around before I got to my interview because I KNEW I didn't want the job. Primarily money and location because the job would have been fine, I think. I have interviewed for so few positions that was such a good match for my skills though. Shame they couldn't have been on this side of I-20 and paid more.

the things people believe you can, and cannot, do on their tax returns is enough to curl your hair. True story: I got a call one day early in tax season from the daughter of a long time tax client. She wanted us to do her first tax return. I started asking her questions about her income, filing status, etc. She sighed and said "well at least next year my husband and I can file jointly". I asked her if she was getting married soon and she said she had gotten married the previous June but had been told that since they hadn't been married the entire year they couldn't file jointly.

and anyone making under 1,000,000 should take a deduction for their losses as well. I've seen plenty of people take deductions for losses over the years. Many didn't know they could. We also have to remember there is a difference between a loss on paper and an actual loss when one sells an item such as stock.

SSI and SSDI are two different things. This person might have received SSI but it's very doubtful she received SSDI as that is next to impossible to get (or so I've read and been told). You DO have to prove you're disabled in order to get SSDI. There are very limited reasons for getting SSDI. Apparently the qualifications for getting SSI are not as strict.

I hope my clients don't mind if I take a little ownership in their businesses. I love to see people do well in their business.

I personally think if it's OK for an individual to use a deduction it's OK for corporations. What's sauce for the goose is sauce for the gander. I don't believe ANYONE (including corporations) should pay a penny more in tax than they should. Sorry, just don't believe it. I believe EVERYONE (including corporations) should pay what they owe. I think all loopholes should be done away with, even the public's favorite mortgage interest deduction and especially EIC. Surepip, you might be close to my age if you remember when Craftsman tools were the best you could buy. Hubby has a bunch o

I was interested until the interview. After the interview, I'm like "no way". I'm too old for that kind of stress. S-e-r-i-o-u-s-l-y, the stress would have been considerably more than I want to take on.

loopholes generally do have unintended consequences but there is nothing wrong with using them. In fact, you SHOULD pay as little tax as possible, even if you're GE. In fact, there was an unintended loophole available to paper companies a few years ago. It was a law giving tax relief to companies that did some particular type of recycling. Well, the paper mills were already doing it LONG BEFORE the law, so when the law went into effect, they took the tax credits that the law allowed. Naturally, there was a big hullabaloo about it, the law was rewritten to remove paper mills from bein

I agree with you completely!! One of my "problems" in a job was I took ownership of it. Sometimes it was difficult for me to remember that I didn't own the company. Never feared hard work, physical or mental. Always, but always have gone above and beyond in my job.

people want paychecks and not careers or jobs. They don't make a correlation between being professional and getting a job.

I LOVE Harry Morgan. He will always be Col Potter to me, even though I watched him in Dragnet. :cray: :cray:

loophole: A technicality that allows a person or business to avoid the scope of a law or restriction without directly violating the law. Used often in discussions of taxes and their avoidance, loopholes provide ways for individuals and companies to remove income or assets from taxable situations into ones with lower taxes or none at all. Read more: http://www.investopedia.com/terms/l/loophole.asp#ixzz1fsXZpRmE But it's OK for individuals, not corporations, right?

In the last job for which I interviewed, I actually did a comparison of their required skills vs my experience. I haven't heard back from the job as yet, but they said it would be mid to late this week before they would start calling people in for their second interview. I wanted to make sure they knew my qualifications and didn't have to guess about it. Not that I want the job. I don't. Too little money for too much work in an area that I don't care to go (Fulton Industrial).

Nope. It's a loophole. Just merely pointing out that individuals should take the same aggressive tax breaks as corporations. JM2, are you incorporated? You could possibly be saving a lot of money by being an S corp and even if you weren't saving money you could be reclassifying expenses to your advantage. I'd think that attorney who cost you 7 grand would point out some other tax saving measures. Direct contributions to politicians or their campaign funds are not deductible. I guess that's where lobbyists come in, huh? Dang lobbyists. I dislike them almost as much a

So, we're all in agreement that it's fine for an individual to use tax loopholes to avoid paying taxes but it isn't fine for a corporation to do the same?

Yes, SIL went to work for Microcenter right out of college (perhaps in college, but we didn't know him then). He needed to make a living while building his business. He got tired of busting druggies in Atlanta as a cop. Why do my daughter and SIL need sympathy? They own several houses, a large farm in South Carolina, their oldest daughter is going to college in DC on full scholarship and other kids are in private school. Daughter is in college as well right now, at the age of 38. They have worked hard for what they have and I'm terribly proud of them. I hate the Georgia Department

I don't believe the FICA rates for 2012 have been set yet since Congress is still debating the payroll tax cut. While they may continue the tax cut, they might not get around to voting on it until spring. Wouldn't be the first time that a tax rate change has happened at an inconvenient time. I always loved the different mileage allowances that started on August 1. Try explaining to a taxpayer that they need to separate their mileage into January 1 to July 31 mileage and August 1 to December 31 mileage. You usually got this: I am not "most people" and I think in absolutes w

so you own your own business doing this? You might be interested to learn that payroll taxes would not be 15% for Social Security, unless you're counting the employee portion as well. Then it all together would be 15.3%. Actually it wouldn't due to the payroll tax reduction. And the Social Security tax would only be due on the first $110,000 of your SELF EMPLOYED INCOME (profit) with everything being taxed for Medicare. I was unaware that you could just "stay" in a no-tax locale and get out of paying state taxes for the state in which you reside. If you live in Georgia, except

my SIL did something like that. Now he sells newspapers.

which would be??????

15.3% self employment tax, 15% (or more) federal income tax and 6% state income tax, if he's a Schedule C filer. On profit. Profit in that kind of business should be around $7500-$9000 on gross of $18,000. Could be a little less with an aggressive tax preparer and could be a lot less if there are a lot of repairs to equipment or new equipment purchased. The thing is, a lot of what one would use in the case before us, a lawncare service, probably has already been deducted in prior years, such as the trailer and the equipment. Probably took a Section 179 deduction for them, so no additi

:good:

what the hell is wrong with manual labor? Maybe Mr Dis gets a lot more satisfaction out of lawncare than he does education. It's not always about making money. Often it's just as important, especially where a second/additional income is concerned, to do what you love doing. And since it isn't his first year doing this, I'm sure he is doing all the right stuff with "write offs". But please share your tips (I seem to recall you saying you don't do taxes).

Mr Dis would do better not to be a C corp. If you're looking at 18k gross, there is no point in having the extra expense to do a C. I, for one, think he's doing things correctly--the way HE wants to do them. Note to Mr Dis--if you do want a new accountant, let me know and I'll give you a referral.

after 16 years in the tax business, I may look at taxes differently than a lot of people.